The price per barrel of oil, on the international market, is set by bidding. When India, China and the rest of the world is strongly competing for a finite resource, of course the price will go up.
And you should know that.
By the end of 08, it may be a lot higher, or a little lower than it is right now.
If I were to bet, I'd bet on higher.
Yeah the Oil giants make a bundle, their sales are so high they can't avoid making a bundle, and pay some seriously heavy-duty taxes on it. Their net profit percentage is lower than many other Corporations. If you don't like it, sorry, that the way it works. Other ways have been tried, remember the price caps of the 70's? And what happened when it didn't work?
I whine and cry at the pump too, all the while remembering the many voices that warned us about this years ago.
Off Topic » in reply to re: "Maybe the price of gas"
Tsk, tsk Lindy